Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 974 — Charge to tax under this Chapter
Charge to tax under this Chapter 974 1 The charge to corporation tax on income applies to income treated under subsection (2) as arising from foreign holdings. 2 Income is treated as arising from…
Section 975 — Meaning of “foreign holdings” etc
Meaning of “foreign holdings” etc 975 1 In this Chapter “ foreign holdings ” means shares outside the United Kingdom that are issued by or on behalf of a non-UK resident body of persons. 2 In section…
Section 976 — Overview of Chapter
Overview of Chapter 976 1 This Chapter— a applies the charge to corporation tax on income to annual payments not otherwise charged to corporation tax (see section 977), ... b . . . . . . . . . . . .…
Section 977 — Charge to tax on annual payments not otherwise charged
Charge to tax on annual payments not otherwise charged 977 1 The charge to corporation tax on income applies to annual payments that are not otherwise within the application of that charge under the…
Section 978 — Exemption for payments by persons liable to pool betting duty
Exemption for payments by persons liable to pool betting duty 978 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 979 — Charge to tax on income not otherwise charged
Charge to tax on income not otherwise charged 979 1 The charge to corporation tax on income applies to income that is not otherwise within the application of that charge under the Corporation Tax…
Section 980 — Exemption for commercial occupation of woodlands in UK
Exemption for commercial occupation of woodlands in UK 980 1 No liability to corporation tax arises under this Chapter in respect of income arising from the commercial occupation of woodlands in the…
Section 981 — Exemption for gains on financial futures
Exemption for gains on financial futures 981 1 No liability to corporation tax arises under this Chapter in respect of a gain arising to a company in the course of dealing in— a financial futures, b…
Section 982 — Provisions which must be given priority over this Part
Provisions which must be given priority over this Part 982 1 Any income, so far as it falls within— a Chapter ... ... 6, and b Chapter 2 of Part 3, is dealt with under Part 3. 2 Any income, so far as…
Section 983 — Overview of Chapter
Overview of Chapter 983 1 This Chapter is about deductions relating to Schedule 2 share incentive plans. 2 Section 984 relates to the interpretation of this Chapter. 3 Sections 985 and 986 set out— a…
Section 984 — Chapter to form part of SIP code etc
Chapter to form part of SIP code etc 984 1 This Chapter forms part of the SIP code (see section 488 of ITEPA 2003). 2 Therefore expressions used in this Chapter and contained in the index at the end…
Section 985 — References to a deduction being allowed to a company
References to a deduction being allowed to a company 985 1 References in this Chapter to a deduction being allowed to a company are to be read in accordance with this section (and references to a…
Section 986 — Treatment of receipts under Chapter
Treatment of receipts under Chapter 986 1 This section applies if a company is treated under this Chapter as receiving an amount. 2 If the company is carrying on a trade or property business in…
Section 987 — Deduction for costs of setting up a Schedule 2 share incentive plan
Deduction for costs of setting up a Schedule 2 share incentive plan 987 1 This section applies if a company incurs expenses in setting up a share incentive plan that is a Schedule 2 share incentive…
Section 988 — Deductions for running expenses of a Schedule 2 share incentive plan
Deductions for running expenses of a Schedule 2 share incentive plan 988 1 This section applies if a company incurs expenses in contributing to the expenses of the trustees in running a Schedule 2…
Section 989 — Deduction for contribution to plan trust
Deduction for contribution to plan trust 989 1 A deduction is allowed to a company (“the paying company”) if— a the paying company makes a payment to the trustees of a Schedule 2 share incentive plan…
Section 990 — Withdrawal of deduction under section 989
Withdrawal of deduction under section 989 990 1 If— a a deduction is made under section 989, and b condition A or B is met, an officer of Revenue and Customs may by notice direct that the deduction…
Section 991 — Another deduction to be allowed if all acquired shares are awarded
Another deduction to be allowed if all acquired shares are awarded 991 1 This section applies if— a a direction is made under section 990, and b at any time after the making of the direction the…
Section 992 — Award of shares to excluded employee
Award of shares to excluded employee 992 1 This section applies if— a a deduction is made under section 989 or 991, and b a number of the acquired shares are awarded under the plan to an excluded…
Section 993 — Plan termination notice
Plan termination notice 993 1 This section applies if— a a deduction has been made under section 989, b the deduction has not been withdrawn under section 990, c the paying company issues a plan…
Section 994 — Deduction for providing free or matching shares
Deduction for providing free or matching shares 994 1 This section applies if, under a Schedule 2 share incentive plan, shares are awarded to employees as free or matching shares because of their…
Section 995 — Deduction for additional expense in providing partnership shares
Deduction for additional expense in providing partnership shares 995 1 This section applies if— a under a Schedule 2 share incentive plan, partnership shares are awarded to employees because of their…
Section 996 — Shares excluded from sections 994 and 995
Shares excluded from sections 994 and 995 996 1 No deduction is allowed under section 994 or 995 in relation to shares to which any of exclusions 1 to 5 applies. 2 Exclusion 1 applies to shares…
Section 997 — No deduction for expenses in providing dividend shares
No deduction for expenses in providing dividend shares 997 1 No deduction is allowed to a company for expenses in providing shares that are acquired on behalf of employees under a Schedule 2 share…
Section 998 — Withdrawal of deductions if share incentive plan ceases to be a Schedule 2 share incentive plan
Withdrawal of deductions if share incentive plan ceases to be a Schedule 2 share incentive plan 998 1 This section applies if— a a deduction is made by a company under section 987, 989, 991, 994 or…
Section 999 — Deduction for costs of setting up SAYE option scheme or CSOP scheme
Deduction for costs of setting up SAYE option scheme or CSOP scheme 999 1 This section applies if— a a company incurs expenses in setting up a scheme within subsection (2) ... ... b . . . . . . . . .…
Section 1000 — Deduction for costs of setting up employee share ownership trust
Deduction for costs of setting up employee share ownership trust 1000 1 This section applies if a company incurs expenses in setting up a qualifying employee share ownership trust (within the meaning…
Section 1001 — Overview of Part
Overview of Part 1001 1 This Part provides for corporation tax relief in relation to employee share acquisitions. 2 Sections 1002 to 1005 relate to the interpretation of this Part. 3 Chapter 2…
Section 1002 — “Employment”
“Employment” 1002 1 This section explains how references in this Part to employment (and related expressions) are to be read. 2 “ Employment ” includes a former or prospective employment. 3…
Section 1003 — “Shares” etc
“Shares” etc 1003 1 In this Part “ shares ” includes— a an interest in shares, and b stock or an interest in stock. 2 For the purposes of this Part shares are acquired by a person when the person…
Section 1004 — Groups, consortiums and commercial associations of companies
Groups, consortiums and commercial associations of companies 1004 1 This section applies for the purposes of this Part. 2 Two companies are members of the same group if one is a 51% subsidiary of the…
Section 1005 — Other definitions
Other definitions 1005 In this Part— “ convertible securities ” has the same meaning as in Chapter 3 of Part 7 of ITEPA 2003 (see section 436 of that Act), “ convertible shares ” means shares that…
Section 1006 — Overview of Chapter
Overview of Chapter 1006 1 This Chapter provides for relief if shares are acquired by an employee or another person because of the employee's employment by a company. 2 Sections 1007 to 1009 set out…
Section 1007 — Basic requirements for relief under Chapter 2
Basic requirements for relief under Chapter 2 1007 1 Relief under this Chapter is available to a company (“the employing company”) if— a a person (“ the employee ”) has employment with the employing…
Section 1007A — Application of Chapter in relation to employees of overseas companies who work for companies in the UK
Application of Chapter in relation to employees of overseas companies who work for companies in the UK 1007A 1 This section applies if— a a person has an employment (“the actual employment”) with a…
Section 1008 — Conditions relating to shares acquired
Conditions relating to shares acquired 1008 1 Each of the following conditions must be met in relation to the shares acquired. Condition 1 The shares are ordinary shares that are fully paid-up and…
Section 1009 — Conditions relating to employee's income tax position
Conditions relating to employee's income tax position 1009 1 If the shares acquired are not restricted shares, the following conditions must be met in relation to the income tax position of the…
Section 1010 — Calculation of relief if shares are neither restricted nor convertible
Calculation of relief if shares are neither restricted nor convertible 1010 1 If the shares acquired are neither restricted shares nor convertible shares, the amount of relief to be given is an…
Section 1011 — Calculation of relief if shares are restricted or convertible
Calculation of relief if shares are restricted or convertible 1011 1 If the shares acquired are restricted shares or convertible shares (or both), the amount of relief to be given is calculated as…
Section 1012 — Reduction in amount of relief
Reduction in amount of relief 1012 1 This section applies if the relevant employment is in relation to both the qualifying business and a business (or part of a business) that is not within section…
Section 1013 — How the relief is given
How the relief is given 1013 1 The relief is given for the accounting period in which the shares are acquired. 2 The amount of relief is allowed as a deduction in calculating the profits of the…
Section 1014 — Overview of Chapter
Overview of Chapter 1014 1 This Chapter provides for relief if— a an employee or another person obtains an option to acquire shares because of the employee's employment by a company, and b shares are…
Section 1015 — Basic requirements for relief under Chapter 3
Basic requirements for relief under Chapter 3 1015 1 Relief under this Chapter is available to a company (“the employing company”) if— a a person (“ the employee ”) has employment with the employing…
Section 1015A — Application of Chapter: employees of overseas companies who take up employment with a UK company
Application of Chapter: employees of overseas companies who take up employment with a UK company 1015A 1 This section applies if— a a person (“E”) has, or had, an employment with a non-UK resident…
Section 1015B — Application of Chapter in relation to employees of overseas companies who work for companies in the UK
Application of Chapter in relation to employees of overseas companies who work for companies in the UK 1015B 1 This section applies if— a a person has an employment (“the actual employment”) with a…
Section 1016 — Conditions relating to shares acquired
Conditions relating to shares acquired 1016 1 Each of the following conditions must be met in relation to the shares acquired. Condition 1 The shares are ordinary shares that are fully paid-up and…
Section 1017 — Condition relating to employee's income tax position
Condition relating to employee's income tax position 1017 1 The following condition must be met in relation to the income tax position of the employee. The Condition The acquisition of the shares is…
Section 1018 — Calculation of relief if shares are neither restricted nor convertible
Calculation of relief if shares are neither restricted nor convertible 1018 1 If the shares acquired are neither restricted shares nor convertible shares, the amount of relief to be given is an…
Section 1019 — Calculation of relief if shares are restricted or convertible
Calculation of relief if shares are restricted or convertible 1019 1 If the shares acquired are restricted shares or convertible shares (or both), the amount of relief to be given is calculated as…
Section 1020 — Reduction in amount of relief
Reduction in amount of relief 1020 1 This section applies if the relevant employment is in relation to both the qualifying business and a business (or part of a business) that is not within section…